Reliance Jio Bags 5G Spectrum BidsTop Stories

August 02, 2022 14:33
Reliance Jio Bags 5G Spectrum Bids

The 5G Spectrum auction in the country came to an end. Indian billionaire Mukesh Ambani's Reliance Jio emerged as the biggest bidder for 5G spectrum and they acquired half of all the airwaves for Rs 88,078 crores. Union Telecom Minister Ashwini Vaishnaw informed the same and the Adani Group acquired 400 MHz which is less than one percent of the sold spectrum for Rs 212 crores. Adani Group's purchase is not for public networks. Reliance Jio acquired 700 MHz band and it provides 6-10 km single range. Reliance Jio will provide 5G in all the 22 circles of India.

Bharti Airtel owned by Sunil Bharti Mittal bought 19,867 MHz airwave in different bands for Rs 43,084 crores. Vodafone Idea paid Rs 18,784 crores. The total bids received for 5G are said to be Rs 1,50,173 crores as per the Minister. Out of the 72,098 MHz across ten bands, 71 percent is sold and it is 51,236 MHz. The Indian government will receive Rs 13,365 crores payment for the spectrum in the first year. The 5G services are expected to be launched by the end of September or during the first week of October.

"We have always believed that India will become a leading economic power in the world by adopting the power of breakthrough technologies. This was the vision and conviction that gave birth to Jio. The speed, scale and societal impact of Jio's 4G rollout is unmatched anywhere in the world. Now, with a bigger ambition and stronger resolve, Jio is set to lead the India's march into the 5G era. We will celebrate 'Azadi Ka Amrit Mahotsav' with a pan India 5G rollout. Jio is committed to offering world-class, affordable 5G and 5G-enabled services. We will provide services, platforms and solutions that will accelerate India's digital revolution, especially in crucial sectors like Education. Healthcare, Agriculture, Manufacturing and e-Governance and make another proud contribution to the honorable Prime Minister's DIGITAL INDIA MISSION" told Akash Ambani, the new director of Reliance Jio.

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